Core Viewpoint - A class action lawsuit has been filed against Solaris Energy Infrastructure, Inc. (SEI) concerning allegations of securities fraud and unlawful business practices related to its acquisition of Mobile Energy Rentals LLC (MER) [2][5]. Group 1: Lawsuit Details - The class action lawsuit claims that SEI and certain officers/directors engaged in securities fraud or other unlawful business practices [2]. - Investors who purchased SEI securities during the Class Period have until May 27, 2025, to request to be appointed as Lead Plaintiff [2]. Group 2: Acquisition of Mobile Energy Rentals LLC - On July 9, 2024, SEI announced its agreement to acquire MER [4]. - An investigative report published on March 17, 2025, alleged that MER was a small revenue equipment leasing business with no employees and no track record in the mobile turbine rental industry [5]. - The report revealed that MER's co-owner, John Tuma, had a criminal background involving environmental crimes and was linked to a significant gas turbine scandal [5]. - Despite claims of a diversified earnings stream, 96% of MER's Power Solutions revenue came from a single customer [5]. Group 3: Market Reaction - Following the allegations regarding MER, SEI's stock price fell by 20.46 per share on March 17, 2025 [5].
INVESTOR ALERT: Pomerantz Law Firm Reminds Investors with Losses on their Investment in Solaris Energy Infrastructure, Inc. of Class Action Lawsuit and Upcoming Deadlines - SEI